Benzinga | Jul 20, 2021 04:18PM EDT

Colony Bankcorp, Inc. To Acquire The Barnes Agency; Terms Not Disclosed

Colony Bankcorp, Inc. (NASDAQ:CBAN) ("Colony" or the "Company"), the bank holding company for Colony Bank (the "Bank"), today announced it has agreed to acquire The Barnes Agency, an Allstate appointed consumer property and casualty insurance agency in Macon, GA. The transaction is expected to close August 1, 2021. In conjunction with the transaction, the Bank has formed a new subsidiary that will operate under the brand Colony Insurance, which will offer a suite of consumer insurance solutions as an Allstate appointed agency, and has named Jason Barnes as President of the subsidiary.